Shinhan Securities announced on December 5th that together with blockchain solution company Lambda256, it will launch a Proof-of-Concept (PoC) to promote the security token (STO) platform business.

Through this platform business, Shinhan Securities plans to enable the tokenization of any underlying asset. Key plans include building blockchain infrastructure, designing digital wallets, issuing, subscribing, and distributing tokens, and linking them with existing financial systems, to internalize technology related to security tokens.

Security tokens refer to securities that are issued as tokens using blockchain technology. They lower the entry barrier for investors, by allowing them to divide ownership of diverse assets (fractional investments) such as real estate, art, and stocks. The advantages of this are a lower issuance cost than traditional securities and a lower risk than alternative digital assets that are based on real value.

Security token Proof-of-Concept is carried out by Shinhan Securities’ blockchain department and Dunamu’s blockchain-specialized subsidiary Lambda256. Lambda256 provides the blockchain platform Luniverse, complete with blockchain consulting for partnered companies, offering a total blockchain solution for diverse businesses that are making the transition into Web3.

Shinhan Securities plans to form a task force (TF) that will lead the development of a security token platform. Experts from diverse fields including product, deposits, payments, and legal affairs will use related systems and overseas case studies as a benchmark to design internal systems.

Furthermore, Shinhan Securities launched its blockchain division, a department dedicated to blockchain-related projects, in July 2022. Kim Jang-woo, head of the Digital Group at Shinhan Securities emphasized that: “We will continue to increase tests conducted with promising companies, to become leaders of new blockchain-based markets, such as security tokens.”

Source: CoinDesk Korea (http://www.coindeskkorea.com/news/articleView.html?idxno=82415)

Lambda256 x Shinhan Securities Initiate Proof-of-Concept to Promote STO Business was originally published in Luniverse on Medium, where people are continuing the conversation by highlighting and responding to this story.

What Luniverse has been doing for sustainability in blockchain

Pursuing environmental sustainability is no longer an option but an inevitable change for all types of businesses. For example, Intel has made a commitment to achieve net-zero greenhouse gas emissions in its global operation by 2040, and Samsung Electronics also announced its new environmental strategy in September to achieve net zero direct and indirect carbon emissions by 2050. There are many other companies applying countless efforts not just to achieve carbon neutrality but to reach net zero for environmental sustainability.

Lambda256 has been working on eco-friendly blockchain technology to dramatically reduce power consumption, providing an environment where anyone can easily issue low-carbon NFTs. Luniverse’s high energy efficiency is envisioned by a validation algorithm called LPoA (Luniverse Proof-of-Authority) behind the Luniverse sidechain, a system that produces 30 million times less energy than that of energy-intensive systems like EthereumPoW and Bitcoin. Luniverse blockchain has received certification from DNV regarding its electricity consumption and greenhouse gas emission for Luniverse mainnet.

Lambda256 has also become a supporter of the Crypto Climate Accord (CCA), the environmental initiative that brings together the blockchain, fintech, technology, and energy sectors to decarbonize the global crypto industry and support the entire industry transaction to net-zero greenhouse gas emissions by 2040. It has gained support from the United Nations Framework Convention on Climate Change (UNFCCC). Other participants of CCA include Web3 foundation, Consensys, Near Protocol, etc.

Our Manifesto for Green Planet

Not long ago, Ethereum, the largest blockchain network in the world, made a long-awaited software upgrade, the Merge, and it shifted from a proof-of-work(PoW) to a proof-of-stake (PoS) consensus mechanism in September. The foundation announced that the transition was successful, and Ethereum has significantly reduced the volume of energy consumption. This significant transition of Ethereum into the green blockchain brought a huge impact and interest in climate change across the blockchain industry.

As many industry verticals are adopting blockchain technology to develop Web3 services or mint NFTs with their own IPs, the environmental sustainability of the blockchain has become more significant than ever. Luniverse plans to support the Web3 DApp services built on Luniverse to carry out sustainable business aiming to achieve carbon net zero with low-carbon activities in blockchain operations.

The figure shows the estimated annual energy consumption in TW/year for various services/industries in June 2022. The figures are from publicly available sources as linked in the next paragraphs, and are visualized from the original source of the Ethereum website. According to them, Ethereum — a platform for securely holding digital assets as investments — can be compared to Youtube (estimated to expend about 244 TWh/yr).

Those estimates imply that people consumed 45 times more energy watching Gangnam Style in 2019 than proof-of-stake Ethereum uses in a year.

Also, they compare the figures of energy consumption from other industries and services such as mining gold (240 TWh/yr) , PayPal(0.26 TWh/yr), the gaming industry (34 TW/yr in the United States alone), Netflix (about 0.45T Whr/yr, their own estimates reported in 2019) up to about 94 TWh/yr (as estimated by Shift Project).

As for the comparison with platforms/services above, Luniverse blockchain consumes 0.0000023 TWh/year, as certified by DNV. The validation algorithm (LPoA) of Luniverse enables the lower expenditure of electricity and high performance compared to the PoW algorithm. Luniverse enables minting and managing NFTs in the most environmentally sustainable and cost-efficient way possible. Our underlying blockchain technology navigates through those challenges, providing an ecologically sustainable marketplace for minting, deploying, and selling NFTs.

In addition, we will actively participate in environmental activities such as CCA’s campaigns, which Lambda256 has already joined, and move toward achieving carbon net zero in the blockchain and digital asset industry. Crypto Climate Accord’s goal is to decarbonize the industry by prioritizing climate stewardship and supporting the entire digital asset industry’s transition to reduced electricity consumption by 2030 and net-zero greenhouse gas emissions by 2040. Lambda256 is participating as a Supporter, whose role is to develop standards, tools and technologies to accelerate the adoption of and verify progress toward 100% renewablely-powered blockchains by the 2025 UNFCCC COP30 Conference. We will actively monitor and support the activities of CCA according to the roadmap.

Towards 2040: Web3 and Environmental Sustainability

With the advent of the Web3 era, the importance of sustainability in blockchain businesses is emerging more rapidly than ever. Luniverse commits to contribute to the improvement of the global environment and a sustainable future through the operation of eco-friendly Green NFT and blockchain.

Luniverse is creating an environmentally friendly digital asset ecosystem with partners using Luniverse’s Green NFT platforms, such as CYPHRLY, MOMENTICA, and Upbit NFT. Please refer to the brief intro of each of our partners. Stay tuned for more updates!

Projects on Luniverse Green NFT

CYPHRLY

CYPHRLY is a curation-based NFT marketplace that provides authentic digital collectibles created with cutting-edge technology. We collaborate with IP holders, artists and brands to help them enter the world of Web3. Our platform expands the values of digital collectibles with physical merits (Digital Pair) and data-driven features (LIVE NFTs). Based on environmentally-sustainable technology developed by Lambda256, the blockchain company of Dunamu, CYPHRLY presents a community where fans can freely communicate together.

MOMENTICA

MOMENTICA is the flagship platform operated by LEVVELS, provides novel and innovative fan-artist experiences worldwide. The platform enables fans to collect and exchange diverse formats of digital collectibles. While the initial service will focus on K-Pop artists, the scope of the service will expand to include different artists and genres of music.

LEVVELS Inc. is a Los Angeles-based company operating a future-proof platform to provide blockchain-based projects for global fandoms and their artists. The company is a joint venture between Dunamu, a worldwide standard setter in blockchain and fintech technology, and Hybe, the global entertainment lifestyle platform company housing multinational music labels.

Upbit NFT

The NFT trading platform of Upbit, the South Korean crypto exchange. Luniverse-based NFTs are issued and distributed on Upbit NFT.

Try Luniverse for Free

Luniverse is a consortium-based blockchain service platform that offers a development environment where anyone can easily create blockchain services, including a crosschain support and layer2 solutions.

Anyone with the interest in using Luniverse can start the free trial today!

>>>Get Started Now

Join our Community Now

Are you curious about Luniverse NFT? Contact us on this page for an inquiry.

Join Luniverse Discord community to check out and communicate about the latest news of Luniverse and NFT!

Green NFT: Web3 and Sustainability for Green Planet was originally published in Luniverse on Medium, where people are continuing the conversation by highlighting and responding to this story.

Luniverse Testnet, a Playground for Web3 Developers

Take advantage of the various features offered by Luniverse in the newly launched Luniverse Sandbox. Try Luniverse Free Sandbox Chain for 60 days today!

– Launch Playground: Explore the various features of Luniverse in the Playground provided by Luniverse.

– Sandbox Chain Connection: Try connecting the Sandbox Chain in Environment.

(*Sandbox Chain data is managed by Luniverse and may be updated or deleted without prior notice for chain environment management.)

More information can be found in the Luniverse User Guide.

What is Luniverse Testnet?

Luniverse Testnet is a free-trial version of Luniverse products on Console for Web3 builders.

Luniverse offers a variety of chain products, but customers had to choose one of them and make payment to try the Luniverse Console. With this update, Luniverse added a testnet environment where you can upload or test DApps for FREE. Try Sandbox together for free and, if you think our environment is good enough, buy and use products provided by Luniverse!

*Notice

The testnet environment is an environment that connects and uses Elastic Nodes (shared nodes), and it is not recommended for building an actual DApp service or configuring a project. In accordance with the policy of Luniverse, which operates the testnet environment, updates or deletions are carried out without prior notice.

We recommend the Dedicated Node environment for full-scale project progress, not for testing purposes.

What can I do with Luniverse Testnet?

Almost all common features of Luniverse are available on the testnet!

• Deploying Smart Contract
• Using the Tx Action function
• Issuing and sending tokens
• Using the NFT API
• Using the Trace API

Start a Free Trial Today

Get started now. Experience FREE Luniverse testnet chain for Web3 builders.

Start connecting the testnet by clicking “Conenct Testnet” on Luniverse Console.

>>>Get Started Now

Luniverse Green NFT: Web3 and Sustainability

With the advent of the Web3 era, the importance of sustainability in blockchain businesses is emerging more rapidly than ever. Luniverse commits to contribute to the improvement of the global environment and a sustainable future through the operation of eco-friendly Green NFT and blockchain.

Luniverse is creating an environmentally friendly digital asset ecosystem with partners using Luniverse’s Green NFT platforms, such as CYPHRLY, MOMENTICA, and Upbit NFT. Luniverse blockchain consumes 0.0000023 TWh/year, as certified by DNV. The validation algorithm (LPoA) of Luniverse enables the lower expenditure of electricity and high performance compared to the PoW algorithm. Luniverse enables minting and managing NFTs in the most environmentally sustainable and cost-efficient way possible. Our underlying blockchain technology navigates through those challenges, providing an ecologically sustainable marketplace for minting, deploying, and selling NFTs.

Projects on Luniverse Green NFT

CYPHRLY

CYPHRLY is a curation-based NFT marketplace that provides authentic digital collectibles created with cutting-edge technology. We collaborate with IP holders, artists and brands to help them enter the world of Web3. Our platform expands the values of digital collectibles with physical merits (Digital Pair) and data-driven features (LIVE NFTs). Based on environmentally-sustainable technology developed by Lambda256, the blockchain company of Dunamu, CYPHRLY presents a community where fans can freely communicate together.

MOMENTICA

MOMENTICA is the flagship platform operated by LEVVELS, provides novel and innovative fan-artist experiences worldwide. The platform enables fans to collect and exchange diverse formats of digital collectibles. While the initial service will focus on K-Pop artists, the scope of the service will expand to include different artists and genres of music.

LEVVELS Inc. is a Los Angeles-based company operating a future-proof platform to provide blockchain-based projects for global fandoms and their artists. The company is a joint venture between Dunamu, a worldwide standard setter in blockchain and fintech technology, and Hybe, the global entertainment lifestyle platform company housing multinational music labels.

Upbit NFT

The NFT trading platform of Upbit, the South Korean crypto exchange. All NFTs distributed by Dunamu to Upbit NFT users are issued on the Luniverse chain.

Join our Community Now

Are you curious about Luniverse NFT? Contact us on this page for an inquiry.

Join Luniverse Discord community to check out and communicate about the latest news of Luniverse and NFT!

Luniverse Testnet Launched! Start a Free Trial Today was originally published in Luniverse on Medium, where people are continuing the conversation by highlighting and responding to this story.

Luniverse Bridge developed by the blockchain middleware service provider Lambda256, released the official security audit report through the partnership with SOOHO. The audit focuses on the assessment of smart contracts to evaluate the Luniverse bridge’s reliability and security.

Key Audit Points

The Luniverse Bridge project is a NFT bridge project based on ERC 721 protocol. SOOHO Audit team focused on reviewing whether the contract is constructed well following the standard protocol, gas optimization of the contract, or probability of unintended behaviors occurring, etc.

[Full version of the audit report ]

[ENG]Luniverse_Bridge_Security_Audit_Report_R2

Additional Work to Enhance the Security

The Luniverse Bridge team is well aware of the importance of safe movement and storage of assets by users within the ecosystem. Therefore, in addition to receiving smart contract audits from Sooho, the bridge itself did the following additional works to enhance the security.

(1) Multi-signature

Multi-signature is a feature that requires at least one signature to move funds. When a user requests the transfer of funds to Bridge DApp, Luniverse Bridge requires multiple signatures to support secure transfer of funds.

Unlike a single key, the multi-sig function allows funds to be safely moved only when multiple signatures are provided with separate and archived keys. Therefore, even if one key is missed, it is safe to use the remaining keys to protect the funds.

(2) Serverless

Serverless function is an architecture that builds services without having to build on a separate server infrastructure that operations are not always handled by running virtual machines or servers. Because the AWS virtual machine’s server runs only when an event triggers, service providers can operate safely with less risks.

About SOOHO

SOOHO provides blockchain enterprise services such as automatic analysis of smart contract vulnerabilities and anti-money laundering solutions based on blockchain data collection, processing, and analysis. The assets of our customers protected by Suho IO amount to a cumulative 3.4 trillion won(2.7 billion USD) and contribute to development and security, including 17,482 vulnerabilities (as of September 21).

• Website : sooho.io
• Twitter: www.twitter.com/soohoio

About Luniverse

Lambda256, a leading global BaaS(Blockchain-as-a-service) provider, has built, deployed, and managed large blockchain networks through its flagship platform, the Luniverse Console, with more than 2,000 enterprise customers. Luniverse has supported companies realize and adopt the value of blockchain through a series of solutions, including NFT, DID, Trace™, Point, etc.

Luniverse Bridge is a bridge protocol that connects major blockchains including Ethereum, the Balance (Luniverse Mainnet), and Luniverse Sidechain. Luniverse Bridge enables artists and creators to efficiently issue and mint NFTs, operate blockchain services through low gas rates and fast transaction speed. Luniverse ecosystem, The Balance and Sidechain, are creating a powerful ecosystem of crosschain networks through Luniverse Bridge.

• Website : luniverse.io
• Luniverse Bridge: https://bridge.luniverse.io/bridge
• Twitter: https://twitter.com/luniverse_io

Luniverse Bridge — Official Audit Report by SOOHO was originally published in Luniverse on Medium, where people are continuing the conversation by highlighting and responding to this story.

The First collection of Luniverse NFT, Luniverse Nauting Friends (LNFs) have been minted! In order to appreciate those of you who started showing interest to Luniverse community from the beginning, we have decided to give away the first collection for free. Although Luniverse community still has far more to achieve, we truly believe that it will be a leading blockchain community. In that sense, the value of Luniverse Nauting Friends lies in the fact that holders are joining the journey with Luniverse rather than for a short-term profit.

Now, let’s find out how to check your NFT on your wallets!

*Note* Unfortunately, Luniverse Mainnet is not public as of April 1, 2022. Therefore, those of you who have NFT dropped cannot find LNF today. We plan to open our Luniverse Main Network on April 8, so you will be able to actually “see” the image of LNF starting then.

However, we understand that you might feel anxious to check your NFT. Then you can go to Luniverse Scan Site and search for your address.

How to Check LNF on your Metamask

We assume that most of you who will receive LNF already have a metamask wallet. And many of you have submitted a metamask address to receive LNF. But for some of you who still do not know how to install metamask, we will begin by explaining how to install metamask. And you should be aware that Luniverse NFT can only be checked on iOS or Android metamask application as of now. Thus, we will explain how to install metamask application.

Installing Metamask on Your Smartphone

• Download Metamask from App Store/Play Store

• Run Metamask on your smartphone.

• Press Start to create a new wallet.

• Read the terms and conditions, and if you agree, press agree and create a wallet.

• Create a password to log in to Metamask

• Secure the recovery seed phrase to protect the wallet.
  *** Seed phrase must be secured at a safe place!!! We recommend securing it by an analog method rather than digital methods such as cloud or email since it might be hacked.***

• Confirm the seed phrase by entering it in order

• Your wallet has been created!

You can also import the metamask wallet on your browser extension if you would like.

• Instead of “Create a new wallet,” click “Import using secret recovery phrase” and enter the password for the app.

Or if you do not know the seed phrase,

• Create a wallet as shown in [Installing Metamask on Your Smartphone]

• Log in and click the circle on the main screen, and click “Import Account”

• Log in to your metamask wallet on the browser extension and click the menu bar in the top-right corner. Click “account details” and “export an account private key.”

• Once you see an account private key, copy and paste it on the metamask.

• You have successfully imported your metamask wallet on your phone!

Connecting Luniverse Mainnet with Metamask

When you first install metamask, it is connected to the Ethereum Mainnet. And it is not connected to Luniverse Mainnet. Thus, you need to connect to the Luniverse Mainnet to check your NFT. Let’s see how you can add Luniverse Mainnet on metamask.

• Click the menu bar on the top-left corener on metamask application

• Click network.

• Initially, you will see five networks: Ethereum Main, Ropsten Test, Kovan Test, Rinkeby Test, and Georli Test. Click “Add Network” at the bottom and enter Luniverse Mainnet information.

• Enter network information as follows:
  Network name: Luniverse (Or however you would like to put it)
  New RPC URL: https://main-rpc.the-balance.io:18545/
  Chain ID: 256
  Symbol: LUK

• Completed!

If you find something wrong, please let us know through Luniverse Discord community.

Now, you are all set to start a journey with Luniverse. Congratulations for being a Luniverse Nauting Friend!

루니버스의 첫 NFT 콜렉션, Luniverse Nauting Friends(LNFs)의 민팅이 완료되었습니다! 루니버스에 대한 관심을 가져주신 분들에게 감사드리는 마음으로 LNF의 첫 드랍은 무료로 결정했습니다. 아직 갈 길이 먼 루니버스 커뮤니티지만 언젠가는 세계를 대표하는 블록체인 커뮤니티로 발전할 것이라고 믿어 의심치 않습니다. 그런 의미에서 여러분들이 곧 받게 되실 LNF NFT는 단기간의 수익보다 여러분이 루니버스와 여정을 함께한다는 데 가치가 있습니다!

그럼 이제 여러분이 발급받으신 NFT를 확인해보는 방법을 함께 알아보겠습니다!

*주의: 루니버스 체인의 메인넷은 2022년 4월 1일 기준으로 공개되어 있지 않습니다. 따라서 NFT를 발급받으신 오늘은 메타마스크에서 직접 LNF를 확인하실 수 없습니다. 다음주 금요일인 4월 8일에 루니버스 메인넷이 연동될 예정이니, 그 날 다시 한 번 확인해주시면 감사하겠습니다!

그러나 NFT가 보이지 않아 우려되신다면, 루니버스 스캔 사이트에 접속하셔서 메타마스크 주소를 입력하시면 민팅된 것을 확인하실 수 있습니다.

메타마스크에서 LNF 확인하기

아마 LNF에 당첨되신 분들 중 대부분 메타마스크 지갑은 가지고 있을 것이라고 생각합니다. 또 많은 분들이 LNF를 받을 지갑으로 메타마스크 지갑 주소를 제출해주셨겠죠. 이미 메타마스크를 가지고 있는 분들이 대부분일테지만, 혹시라도 메타마스크 설치를 모르시는 분들을 위해 메타마스크 설치부터 알려드릴게요. 참고로, 메타마스크의 경우 루니버스 NFT는 현재 iOS나 안드로이드 앱에서만 확인이 가능합니다. 그래서 앱 설치 과정부터 알려드리려 합니다.

스마트폰에 메타마스크 앱 설치하기

• App Store/Play Store에 접속하여 Metamask를 검색하고 다운로드 받는다.

• 다운로드 받은 메타마스크를 실행한다.

• 시작하기 버튼을 눌러 새 지갑을 생성한다.

• 안내문을 읽고 동의한다면, 동의함을 눌러 지갑을 생성한다.

• 메타마스크에 로그인하기 위한 암호를 생성한다.

• 지갑 보호를 위해 계정 시드 구문을 확인 후 따로 보관한다.
  *** 시드 구문은 꼭 따로 저장하여 지갑 보호하기!! 해킹의 위험이 있는 클라우드나 이메일 등 온라인에 저장하기 보다는 아날로그로 적어놓기를 추천 ***

• 계정 시드 구문을 순서대로 입력하여 맞는지 확인하기
• 계정 생성 완료!

혹은 브라우저의 익스텐션으로 사용중인 메타마스크 지갑을 그대로 앱으로 가져올 수 있습니다.

• 처음 다운로드 받았을 때 “계정 시드 구문으로 가져오기”를 클릭하여 익스텐션 지갑의 계정 시드 구문 입력 + 앱에서 로그인 할 암호 입력

혹은 계정 시드 구문을 모른다면,

• 위 [스마트폰에 메타마스크 앱 설치하기] 순서를 따라 설치
• 로그인 후 메인화면 상단의 원을 클릭하여 계정 가져오기 클릭

• 크롬 혹은 파이어폭스 익스텐션 메타마스크에 로그인하여 우측 상단의 메뉴 클릭, 계정 세부 정보 확인 후 비공개 키 내보내기 클릭

• 비공개키가 나오면 복사하여 스마트폰의 메타마스크 앱에서 문자열 붙여넣은 후 가져오기

• 메타마스크 앱에 지갑 복사하기 완료!!

메타마스크에 루니버스 연동하기

메타마스크의 지갑을 처음 설치하시면 기본적으로 이더리움 메인넷에 연결이 되어있습니다. 그리고 루니버스 네트워크는 연결이 되어 있지 않습니다. 그래서 메타마스크에 루니버스 메인넷을 연동해야하는데요, 그 절차를 알려드리겠습니다.

• 메타마스크 앱 화면 좌측 상단의 메뉴버튼을 눌러 설정으로 들어갑니다.

• 설정의 네트워크로 들어갑니다.

• 최초 네트워크는 Ethereum Main, Ropsten Test, Kovan Test, Rinkeby Test, 그리고 Georli Test로 구성되어 있을 것입니다. 하단의 네트워크 추가를 눌러 루니버스 메인넷 정보를 입력해주겠습니다.

• 아래와 같이 네트워크 정보를 입력해줍니다.
  네트워크 이름: Luniverse (혹은 여러분이 원하는대로 설정 가능)
  새 RPC URL :https://main-rpc.the-balance.io:18545/
  체인 ID : 256
  통화 기호 : LUK

• 완성!

혹시 잘못된 점을 찾으시면, 루니버스 디스코드를 통해 저희에게 알려주시기 바랍니다.

이제 루니버스와 함께 항해할 준비를 마쳤습니다. Luniverse Nauting Friend가 된 것을 진심으로 환영합니다!

How to Check Luniverse NFT on Metamask was originally published in Luniverse on Medium, where people are continuing the conversation by highlighting and responding to this story.

2021 was a remarkable year for NFT, as it started to play a salient role as a blockchain application. Both trade volume and the price of NFT increased dramatically. The proof of ownership using blockchain technology was the core reason for the success of NFTs.

Traditional artworks are not very reproducible, and their owners are the physical holders. On the other hand, the originality and ownership of digital products — such as images, videos, and sound — were difficult to be proven due to their high reproducibility. Proving ownership of digital products with electronic signature technology applied in blockchain, NFTs started to be used in various fields.

Metaverse, a link between the cyber- and real-world, is no longer a future. Users will more actively create digital products in Metaverse. User-created content, or UCC, was nothing new even before the advent of blockchain. Nevertheless, the consumption of UCC was limited to the service on which it was created; outside the service, the digital content could not be used.

Unlike digital products on the existing UCC services, those made with blockchain prove both the creator and the owner of them. Thus, user-created digital products are not restricted to certain services.

Luniverse NFT Service

To support NFT trends, Lambda256 also revealed the Luniverse NFT service in 2021. Users of Luniverse NFT API can use both Luniverse Main Chain and Luniverse Side Chain, which are selectable depending on the circumstance.

Using Luniverse NFT service API, users can also add functions to issue NFTs on applications. Luniverse NFT service API supports contract management, media data management, metadata management, and token management.

In contract management, users can 1) deploy NFT contracts on the blockchain and 2) view the list of deployed contracts. In media data management, users can manage the images, videos, and audio of the NFT tokens. Media data are saved in AWS S3, and the services are connected to the CDN service for a quick download in the application.

For example, if the 387 transaction above disappears after the 386 transaction is mined, the 388 transaction pauses in the waiting queue before being processed. After a certain amount of time, the 388 disappears.

The patented technology, the Transaction Pipeline, prevents such issues.

Luniverse NFT Minting Tool

The API specifications of the Luniverse NFT service can be checked at https://api.luniverse.io/nft/v2/docs/.

Luniverse NFT Minting Tool

Luniverse NFT API provides basic functions necessary to issue NFT only in API, which means that it is a tool for developers, so it is difficult for users who are not developers to issue NFTs. Thus, we made an NFT Minting Tool for non-developers. The NFT Minting Tool offers functions for contract deployment, media data management, metadata management, and token issue, using a web interface.

NFT Metadata

The NFT Metadata is largely divided into basic metadata and extended metadata — or on-chain metadata and off-chain metadata, based on where it is saved. Basic metadata is defined in the ERC721, the standard of the Ethereum NFT, and is saved on-chain. Basic metadata of the Luniverse NFT service is saved on-chain, while the extended metadata is saved off-chain.

• Basic metadata: name, symbol, and tokenURI are basic metadata, and they are defined in the ERC721Metadata interface. Name and symbol are the same value regardless of the token, and only the tokenURI alters based on the token ID. tokenURI, on the other hand, can be set to change depending on the status of a token. Basic metadata can be viewed on-chain using the ERC721 contract.

All metadata except for the basic metadata is called extended metadata. The extended metadata can be recorded on or outside the blockchain; the Luniverse NFT service records all extended metadata off-chain.

• Extended metadata: By extending the ERC721, extended metadata can be saved and viewed on-chain. In fact, it is ideal to record the extended metadata on the blockchain. However, it requires a high storage fee. Therefore, Luniverse saves the extended metadata only off-chain.
• Off-chain metadata: Metadata that cannot be viewed through the chain, but through tokenURI
• The two types of off-chain metadata are media data and property data. The current version of the Luniverse NFT service directly saves and manages metadata in the NFT service. Because of the decentralizing feature of the blockchain, NFTs can be used without being restricted to a certain service. However, for smooth web service, metadata is now managed in a centralized server. To transact NFT tokens issued in Luniverse to a decentralized wallet, such as Metamask or D’cent, the metadata of tokens should be copied to P2P decentralized storage, such as IPFS. Then, the owner of the token will completely own the metadata without a centralized server.

NFT Media Data

Luniverse NFT service currently saves media data in S3 and offers a function to view media data through CDN for a smooth service. The NFT contract is built to prove the originality of the media data by recording a hash value.

Luniverse plans to offer an option for the media data to be viewed in a decentralized wallet without a centralized server, just like for the metadata. The function will be offered by copying in a P2P decentralized file system, like IPFS.

Functions To Be Added

NFT Minting Tool

Currently, Upbit and Upbit CPs(Content Providers) are provided with NFT minting tools for Upbit Marketplace. Data shows that Luniverse users mint NFT for B2B uses more than individual uses, so Luniverse will offer B2B NFT Minting tool in SaaS (Software as a Service format) within the first quarter of 2022.

Multichain Support

Luniverse NFT Minting Tool, at this moment, only allows NFT deployment in the Luniverse Main-Chain and Side-Chain. However, requests to deploy NFT tokens on Ethereum Mainnet are increasing among Luniverse users because the token deployment in Ethereum is accepted in virtually all VASPs or marketplaces. Therefore, by the third quarter of 2022, various chains — such as Ethereum, Polygon, and Solana — will be supported for NFT deployment.

Decentralized Metadata Service

Luniverse supports some decentralized wallets, like Metamask and D’Cent. Users that use decentralized wallets need to inquire about metadata and media data without a centralized service. Luniverse will develop an inquiry function about metadata by saving NFT metadata and media data in the P2P file system, which means that a centralized server will not be necessary.

NFT Bridge

As of February 2022, there are approximately 38,488 NFT contracts deployed in the Ethereum blockchain, and fees to transact NFTs are around $18. Activation of blockchain applications such as DeFi and NFT brings about high gas fees and transaction process performance issues. Ironically, as more people use the Ethereum Mainnet, both the value and transaction fees of Ethereum increase, eventually hampering the use of Ethereum Mainnet.

Once Metaverse is activated, various items to ornate Metaverse will be created and traded as NFTs. If the transactions of the Metaverse are recorded in the Ethereum Mainnet, the services related to NFTs will not be smoothly supported due to the low transaction process rate. Thus, the Metaverse systems will likely have to create their own blockchain.

However, they will also have to support trading NFTs created on other public chains on their service, which will require bridge protocols. Luniverse is building an NFT bridge to enable the use of NFTs deployed in Ethereum, Solana, and Polygon; by the end of the first quarter of 2022, Ethereum Mainnet bridge service will be supported.

Conclusion

For the last three years, Luniverse has been developing a BaaS platform for users without much blockchain knowledge to easily use blockchain. In 2022, Luniverse, as a blockchain enabler, will develop various services and tools that will contribute to popularizing NFT.

Luniverse NFT

Are you curious about Luniverse NFT? Contact us at support@lambda256.io for a meeting.

Join the Luniverse Discord community to check out and communicate about the latest news of Luniverse and NFT!

2022 Development Milestone of Luniverse NFT was originally published in Luniverse on Medium, where people are continuing the conversation by highlighting and responding to this story.

On February 25th, Luniverse team held an NFT webinar on the official Luniverse YouTube channel. Despite the webinar’s rich content, the global fans of Luniverse could not take advantage of it because of a language barrier. So, we will provide a summary of each of the four sections of the webinar for those who missed it.

Session 1. Global NFT Industry and Luniverse

The first session went over the global NFT trend and the use of Luniverse in the NFT industry. As the market is growing rapidly, the need for a more stable chain than Ethereum is also growing; the increasing number of projects which support both Ethereum and multichain is not an accident. Luniverse provides a perfect development environment matching the trend.

Because of Ethereum’s chronic problems — low TPS, high gas fees, and environmental issues — layer 2 solutions are emerging as an alternative. Although developing a layer 2 seems complicated, developers can easily develop one through Luniverse. Moreover, Luniverse provides different advantages such as developer- and eco-freindliness, with high stability and security. These features have led Upbit, the largest cryptocurrency exchange of South Korea, to use Luniverse for the backend of its NFT marketplace. Users can easily verify the validity of their NFTs, and NFT creators who are not familiar with blockchain can simply mint NFTs on Upbit NFT. Luniverse will further target the global market, as it will support Cyphrly — the global NFT marketplace to be launched within the next quarter.

Session 2. Applying NFTs in Services

NFTs are with great potential. NFTs are being applied in various fields and contents, and there are still more to come. Although most NFTs that are traded are PFP or gaming projects, other industries have started to implement NFTs. Recently, global fashion corporates, such as Adidas and Gucci, have started NFT collectible projects, as well as Walmarts and Coca Cola and Pepsi, which do not seem to be related to blockchain. Regardless of the type of industry, NFT is now an indispensable technology. In the previous section, we showed how Luniverse can support industries to implement NFTs.

For corporate clients, Luniverse provides numerous benefits. For content providers (CPs), Luniverse manages NFTs and complex blockchain technology, so that CPs can focus only on their content. Smart contracts are free from errors as they must go through a number of processes before being deployed. NFT metadata are thoroughly reviewed but easily registered at the same time for low hurdles. Luniverse already provides satisfying features for CPs, but the upcoming multichain bridge will guarantee a better development experience with mutual operations among different chains.

Session 3. Luniverse NFT Development Roadmap

The third session of the webinar explored what Luniverse NFT is like now and what it will be like in the future (As Is, To Be). The most notable features of Luniverse NFT were metadata management and its architecture. Basic metadata of the Luniverse NFT is saved in the contract on-chain. On the other hand, general metadata is saved in the database while the media data is saved in Amazon S3. Such NFT metadata storage system enables a stable service. In addition, the architecture of the Luniverse NFT is more stable than Ethereum, the most popular blockchain for NFT, for NFT minting. Ethereum sometimes loses a nonce when a lot of NFTs are minted in a short period, resulting in untreated transactions. In contrast, a patented “Transaction Pipeline” technology of Luniverse NFT manages nonce so that it does not lose a nonce.

Although Luniverse is already a great BaaS for NFTs, some fantastic updates are waiting, some of which include Web UI support and decentralized metadata service. However, the biggest updates are NFT Bridge and multichain support for other prevalent public blockchains. Luniverse NFT Bridge will enable depositing tokens on public blockchains such as Ethereum and Solana to Luniverse Main- and Side-chains. Moreover, Luniverse users will be able to mint NFTs on various chains through multichain support with a familiar Luniverse UI.

Session 4. Luniverse NFT Demo

The participants of the webinar had a session to mint NFTs by themselves. The participants deployed the NFT contract through the Luniverse console. Using the Luniverse NFT API and the deployed NFT contract, the participants minted the NFT and checked whether the mint was successful through a viewer.

As the interest in the NFT industry is unprecedented, the 2022 NFT webinar of Luniverse was much needed for the public. In a near future, we expect to reach out to our global users with a similar approach. We are always open to global users, so feel free to reach out to us via support@lambda256.io. Also, don’t forget to join our discord to hang out with other blockchain developers, artists, and enthusiasts!

Webinar Recap: Luniverse 2022 NFT Demo Day was originally published in Luniverse on Medium, where people are continuing the conversation by highlighting and responding to this story.

In the blockchain multiverse, there are so many amazing things; from small tokens floating around the universe to other main/side universes, blockchain is definitely a space worth traveling.

However, traveling in the blockchain is not simple — especially since we are not going to be restricted in the Luniverse. Our ultimate goal is to visit other blockchain universes to learn about their special features as well as to spread the advantages of the Luniverse. But now, we need more helps from friends, so we are asking you to join us.

We would like to call the new team Luniverse Nauting Friends (LNFs), derived from astronauts — space sailors. Luniverse Nauting Friends will play a significant role in the Luniverse community by sharing blockchain news, answering questions, or even chatting!

The First NFT Collection of Luniverse

Once confirmed to be an LNF, you will be given a badge to prove your membership. But hey, we are going to be travelers of blockchain; the badges will be issued in NFTs so that you will not lose your badge and lament for your lost membership! These will in fact be the first NFT collection of Luniverse, too. The benefits for Luniverse Nauting Friends — the holders of Luniverse NFT — will include, but are not limited to, early access to various developer content, future community events of Luniverse, and free consulting for upcoming Luniverse NFT platforms. We are also considering a community DAO and other amazing benefits from Luniverse ecosystem in the near future!

Are you still unsure whether you want to join or not? When you see our plans, you would probably want to join. First, we will recruit 256 Luniverse friends to represent Lambda256’s universe. The membership is open to anyone including those who do not have a badge, but the chosen 256 LNFs will receive benefits. Second, although we love our Luniverse, we are very curious about other universes, like Ethereum. Thus, we are planning on building a bridge to Ethereum within this quarter and other chains within this year! This means that your badge will be sellable on OpenSea — but of course, we believe you won’t leave us. Third, to demonstrate our gratefulness to LNFs, we will hold a community event. We can’t tell you much due to confidentiality, but the event will be amazing!

Come join us at Discord and share your thoughts/insights on blockchain before minting!

We want YOU for Luniverse Nauting Friends.

About Us

Luniverse is Asia’s leading Blockchain-as-a-Service(BaaS) created by Lambda256. Lambda256 currently holds 4,000 clients and has received $100M funding from the leaders of different industries. Luniverse provides a Layer-2 System divided into Main-Chain and Side-Chain. Luniverse’s high energy-efficiency is envisioned by a validation algorithm called LPoA(Luniverse Proof-of-Authority) behind the Luniverse Side Chain, a system that produces 99.99% less energy than energy-intensive systems like Ethereum. Luniverse provides a safe and unique side chain with high-performance — 2000 TPS, one-second block time, etc.

Visit Luniverse Discord community for the latest updates and discussion!

Luniverse Nauting Friends(LNF) Recruitment Notice 🏅 was originally published in Luniverse on Medium, where people are continuing the conversation by highlighting and responding to this story.

By Evan Park, COO of Lambda 256

One of the most famous English dictionaries, Collins, nominated NFT as the “2021 word of the year.” It seems like NFT comes to mind before Bitcoin when explaining blockchain technology. Today, NFT is not a foreign term — instead, it is prevalent and easily accessible. By connecting wallets to Twitter, its users can change their profile pictures into an NFT they own which will be verified by Twitter; now, NFT collectors all over the globe are showing off their collection through their Twitter profiles. Gwyneth Paltrow showed off her BAYC collection on her Twitter, envied by other collectors.

The word NFT, however, is like the word “smartphone.” The advent of smartphones more than a decade ago was the hottest issue at that time. The invention of Steve Jobs, the iPhone, was called a smartphone to emphasize relative smartness compared to pitcher phones. But now that smart has become the default, brands such as iPhone or Galaxy are more important than the categorical word smartphone. According to Google trends, people search “smartphone” much less than “NFT.”

A non-fungible token is used to contrast it to a fungible one. It should be noted first that both fungible and non-fungible tokens are essentially technical standards to prove the ownership of an asset of certain tokens by decryption of blockchain and to track transaction history. Here, fungible tokens indicate exchangeable or countable assets (i.e., stock or currency) while non-fungible tokens were developed as electronic certificates to prove individually distinguishable digital assets (i.e., real estates or unique artworks). Thus, NFT is often compared to a copy of the real estate register.

The reason for the power of NFT technology, nevertheless, is that it can prove the ownership of digital assets. The advent of NFT let people think that jpg files could also be owned and traded like offline assets for the first time. The potential impact of the NFT technology on the scale of the economy is incomparable to anything, especially with a myriad of digital contents due to the beginning of the era of Metaverse.

However, as the word smartphone is not used anymore, the word NFT might disappear one day if everyone understands that all digital contents require ownership. Everyone, whether he is unaware of the concept of the real estate register or not, knows that real estate is an asset owned by somebody; likewise, everyone will one day understand that digital contents are assets with ownership. Once the concept becomes natural, users on Metaverse will willingly pay for digital clothes or accessories on Metaverse.

That is, the disappearance of the word NFT will mean that the NFT technology is truly popularized. Rather than asking for an NFT trade, we will check information of all digital items on blockchain and ask to trade a “Gucci accessory item.”

I am confident that the world is coming soon because the technology is already close to completion. Since the launch of Lambda256 in 2018, the only goal has been to popularize blockchain technology. That is how Lambda256 built the first NFT ecology based on Ethereum layer 2 technology and has collaborated with world-renowned NFT corporates. In the NFT session of the 2019 Upbit Developer Conference, representative DApp partners of Luniverse dominated the stage. In addition, tens of developers participated in a hands-on session to issue NFT and develop a transaction system, experiencing a pleasant surprise of easy and accessible NFT technology based on Luniverse. The technology was already commercialized by then and has been implemented in Upbit NFT after improvements in UX and other performances.

Some of the special features of Luniverse include the followings:

1. Low gas fee and architecture free of gas fee for even general users
2. User-friendly UX for those not used to crypto
3. Safe wallet management technology for both on-chain crypto and offline payment methods
4. Compatibility for the current crypto users to connect with wallets, such as Metamask

For enterprises wishing to service NFT, more issues can be handled by the core technology of Luniverse.

1. Eco-friendly blockchain (Luniverse uses 100 million times less energy than Ethereum)
2. Regulation-friendly technology, like anti-money laundry (Lambda256 provides Asia’s №1 technology complying with regulation)
3. Blockchain infrastructure technology providing enterprise-level SLA (Barrier-free since open-beta in 2019; AWS-level SLA)
4. Immediate technology/development support
5. Technology compatibility (planning to support multi-chain such as Solana and Flow, in addition to the most prevalent Ethereum layer 2 protocol)
6. Top marketplace ecologies, such as Upbit NFT, Cyphrly, and Hybe Project

For individual creators and IP holders wishing to pave the way in the NFT market, Lamdba256 aims to be a Pixar of NFT with a new corporate, Cyphrly — an NFT professional studio and global marketplace.

1. Marketing/producing competitive creators to the global market
2. Collaboration in LIVE NFT production using blockchain technology, more than just simple digitalization
3. Web 3-like collaboration, which enables scaling ecology while adhering to copyrights of brands

Some of the technology and services listed above have been already completed, and others are to be revealed according to the roadmap in 2022. I believe 2022 is going to be a year for most industries, including global K-pop, entertainment, and game, will implement NFT; technology will be all prepared this year to form a market. The word NFT will be so popularized, ironically disappearing.

iPhones and Galaxy have replaced the word “smartphone;” Netflix and Disney+ have replaced the word “OTT.” Your service could replace the word “NFT.” Do not miss out on this invaluable, new opportunity.

Luniverse NFT

Through one-stop NFT service platform, Luniverse leads to scale ecology and popularize blockchain — anyone can proceed NFT projects easily! Do you want to learn more about Luniverse NFT? E-mail support@lambda256.io for a consulting.

Visit Luniverse Discord community to learn about the recent news of Luniverse and NFT!

NFT, the word to Be Gone in 2022 was originally published in Luniverse on Medium, where people are continuing the conversation by highlighting and responding to this story.

The NFT Boom

A scene in a movie only a few years ago seemed to be reflecting a great future. Today with the advent of Metaverse, we know we are only a few steps away from it. Metaverse is utilized as a new economic model and a way to expand businesses for most of the existing corporates. Thanks to games and untact environment stimulated by COVID-19, Metaverse is permeating our lives.

Non-Fungible Tokens (or NFTs), another megatrend in 2021, are also growing rapidly by accelerating Metaverse-based economics. The definition on NFTs, however, still has not reached a global consensus; whether they are classified as virtual assets or not will have a great impact on their future because regulations will greatly differ based on classifications. According to the Updated Guidance for a Risk-Based Approach by Financial Action Task Force (FATF), NFTs are generally not considered as virtual assets because they are 1) “unique, rather than interchangeable” and 2) “used as collectibles rather than as payment or investment instruments.”

Moreover, Act on Reporting and Using Specified Financial Transaction Information of South Korea defines virtual assets as “electronic certificates (including all rights thereto) that have economic value and that can be traded or transferred electronically,” excluding those “that cannot be exchanged for money, goods, or services and the place and purpose of use of which is restricted by the issuer.” Since an owner of an NFT cannot send his/her NFT to the other, it is not a virtual asset according to the Act above. However, there is still a grey area for various interpretations, which means that NFT trade platforms (i.e., Opensea) might have to meet a wide range of legal obligations as VASPs if NFTs are to be defined as virtual assets.

Despite the concerns, industries utilizing NFTs are expected to continue the rapid growth in 2022. NFTs will be used to trade intellectual properties such as collectibles, artworks, and sports, obviously in addition to the current use in game and virtual worlds.

Forgery prevention or authentication are some other ways to utilize NFTs in industries. In fact, efforts to verify and prove expensive premium brands or jewelry via NFTs are consistently occurring.

Finance-Based Blockchain: Web 3.0, DAO 2.0, DeFi 2.0, and CBDC

Let’s look back to the blockchain market in 2021. First-world countries such as the US, European Union, and China take up more than 70% of the industry spending. Financial blockchain, such as DeFi, digital custody, and CBDC, was the leading industry, taking up about 60% of the market, followed by manufacture, distribution, and public sector. Disregarding the current development stage, more than 80% of the world’s biggest 100 companies have implemented blockchain technology.

Although more than half of the enterprise blockchain is based on private chain — especially Hyperledger fabric — rather than public chain, the blockchain trend in 2021 demonstrated the need to increase multi-chain use in accordance with the expansion of blockchain technology and its application. As the awareness on the need for appropriate chain is increasing, development of a platform supporting multi-chain as well as bridge technology supporting between-channel communication will keep accelerating.

The acceleration of blockchain will be led by the three waves of 2021 — Web 3.0, DAO 2.0, and DeFi 2.0.

Web 3.0

Web 1.0 was a basic homepage, a one-way window to promote what a company has. In Web 2.0, two-way communication was the biggest concern. Users could communicate via writing, in contrast to passive reading in Web 1.0. Web 2.0 brought about the development of mobile environment and social platforms based on user-generated content. The unreasonableness of Web 2.0, however, was that user-generated content was owned by the platform service provider, not the user, and it was the reason the initial Web 3.0 focused on individualization; that is, the nature of Web 3.0 was hyper-individualism, offering optimal information and service necessary for an individual. Nevertheless, Web 3.0 merged with blockchain strives for a bigger value. Rather, it seeks to revolutionize the internet ecology which is centralized and monopolized by few Internet giants and create digital economics that is fairer and decentralized. In other words, by offering an infrastructure which enables horizontal value exchange, blockchain-based Web 3.0 provides a protocol for participants to freely exchange values without an interruption from centralized institutions, like platforms. New technologies such as smart contracts, dispersed infrastructure, decentralized finance, digital certificates, proof of ownership, and DAO will be imperative in Web 3.0 era.

DAO 2.0

Blockchain-based Web 3.0 is also changing the form of companies, and it is called Decentralized Autonomous Organization (DAO). DAO is a futuristic organization operated by smart contracts. Its very first model, “the DAO,” defined itself as a new form of consultative group reclaim novel business opportunities for participants’ improvement.

DAO operates consensus rules based on smart contracts, so it works autonomously once rules are set. This structure is in stark contrast with original incorporations which implement a top-down structure grounded on shareholders because it seeks to achieve a goal set by DAO members, not the profit of shareholders. Thus, it may look more like a co-op. DAOs include, but is not limited to, Uniswap (DeFi DAO), Neptune (investment DAO based on Venture Capital), constitution DAO (collector DAO), or other fan club DAOs run separately from agencies.

Since the basic principle of DAO is to set a company’s goal via participants’ votes and fair distribution of profits, advocates of decentralization appreciate DAO. However, voting rights in DAO are determined by stakes, leaving a side effect — that a small part of participants invest most of capitals for voting rights — to be solved. Nevertheless, Wyoming, probably the most progressive state to new technologies, acknowledged DAO as a legal limited company in 2021. The progress is notable regarding the lack of legal ground to admit DAO as a legitimate company.

DeFi 2.0

One way to apply DAO was DeFi 2.0. DeFi 2.0 supplemented drawbacks of DeFi 1.0, which has been criticized as a Phonzi scheme by some, by a simple logic: high liquidity backed by a high interest. By implementing a bond system which DeFi 1.0 lacked, Olympus DAO, a representative DeFi 2.0, created a system in which a protocol can manage liquidity pool. Thus, Olympus DAO is still holding the lower limit price — a culprit of the failure of DeFi 1.0 — quiet successfully so far, despite some cynical perspectives on it. More DeFi 2.0 models, like MakerDAO based on Ethereum security, are being created.

It is still necessary to monitor how and what financial authorities will regulate on DeFi users and service providers. Nevertheless, regulation issues did not stop DeFi from its sevenfold growth rate in 2021 alone, and it is only expected to accelerate this year. As virtual assets are occupying more spaces of the portfolios of institution investors, DeFi industry related to digital custody is almost doubling annually.

Competition over CBDC Supremacy

Throughout the history of humankind, in the center of authorities always lied a financial supremacy. The United States of America took over world’s supremacy by making dollars a key currency right after the World Wars. The emergency of Bitcoin is probably the first variable of the dollar-based US supremacy. China performed Central Bank Digital Currency (CBDC) test before anyone else and is seeking to expand its use via 2022 Beijing Winter Olympics.

China’s effort to promote its CBDC is one of the reasons the US and some of its alliances are politically boycotting the Olympics. China, probably the only threat to the US supremacy, is actively looking for a chance to shake the dollar supremacy. The intention is pretty clear reflecting that the US government regulated the effort of Facebook — currently Meta — to issue a new coin named Libra, worrying that it would threaten dollar supremacy. Facebook moved on to issue Diem, on which Facebook also gave up. Eventually the only coin Facebook issued was Paxos, a stable coin only for American users.

The political concerns complicate the hidden intentions of each country. The biggest concern of the US is to preserve the existing financial ecology while that of China is to preoccupy digital currency ecology. Hong Kong and Singapore, two center mediators of world’s finance, are seeking for profits by mediating new and original financial ecologies. The Bank of Korea is planning to initiate the first step of a pilot program of Korean CBDC by June, 2022, and the second step in the second half of the same year. Regarding the cautious attitude of financial authorities so far, however, completion of the pilot program will not determine its launch. Korea should carefully consider that neighboring countries are progressing CBDC based on their own benefit; we hope that Korea makes a strategic move, rather than a conservative one, regarding CBDC.

Industrial Areas: Manufacture, Retail, and Public Sectors

The recent ESG standards in industries are significantly influencing business activities. ESG stands for Environmental, Social, and Governance, demonstrating that the value of a company will be acknowledged only if all three values, not just profits, are pursued. Blockchain industry will not be an exception, and ESG will potentially be both opportunities and concerns. The enormous energy consumption of blockchain mining has been an issue for years, and Ethereum, the most prevalent blockchain platform in the industry, is on its way to convert from PoW to PoS. The European Union’s recent implementation of Carbon Border Adjustment Mechanism (CBAM) will also have a significant impact on Korea’s export — especially that of vehicles and steel — to EU, possibly reducing more than 10% of all exports.

BlackRock announced that it will only invest in moral companies which reduced a certain amount of carbon emission. Otherwise, BlackRock will retrieve funding in those companies that do not meet the new standard. In fact, a Dutch pension fund APG already withdrew its investment in Korea, which is exporting coal-based power plants. Green energy is the key requests of the change in business environments. Via large-scale funds, Europe is actively supporting businesses that are converting from gray- to green-jobs. Conversely, South Korea’s import still heavily depends on — more than 90% — fossil energy. In terms of renewable energy ratio, South Korea is far behind OECD nations with only 8%, compared to the OECD average of 30%, ranking last among all OECD nations.

How can somebody call this moment a chance, then? The answer is blockchain. A number of South Korean companies have initiated to apply blockchain on supply and demand system of green energy. Since ESG is closely related to numerous regulation policies dealing with survival of companies, blockchain in green energy field is likely to grow at an astronomical rate.

As in 2021, retail corporates, especially the giants, will expand NFT use for loyalty marketing. Fintech, overseas remittance, and manufacture will apply blockchain more and more. The South Korean Ministry of Science and ICT has included blockchain as one of the key technologies for futuristic economic paradigm; plus, it is preparing for diverse pilot projects in collaboration with other ministries.

Recently, it is not uncommon to find clients who ask how far blockchain has come so far in terms of Gartner Hype Cycle. They do not doubt blockchain technology itself, but their questions probably reflect worries due to both memories of volatile prices of cryptocurrencies and recent NFT boom.

I think that blockchain, as a technology, has reached the “slope of enlightenment” at least. Therefore, I often tell my clients that 2022 will be a remarkable year with a myriad of application cases of blockchain to reach “the plateau of productivity.” I truly believe that blockchain will be expressed in various business cases in 2022.

Luniverse NFT

Wanna learn more about Luniverse NFT? Ask support@lambda256.io for questions!

Check most recent news on Luniverse and NFT on Luniverse Discord Community, and communicate with others.

2022 Luniverse Enterprise Blockchain Trend was originally published in Luniverse on Medium, where people are continuing the conversation by highlighting and responding to this story.